Baku: Azerbaijan has introduced a new legislative provision allowing eligible private businesses to transfer funds from their VAT deposit accounts to the State Social Protection Fund. This initiative is targeted at entities operating outside the oil and gas sector and is set to begin on January 1, 2027.

According to Azeri-Press News Agency, the amendment to the Tax Code was approved by President Ilham Aliyev. It specifies that over a four-year period, taxpayers in the non-state sector can transfer funds under rules set by a designated body. This move aims to provide more flexibility and support to private enterprises in managing their financial commitments to social protection schemes.